Quote (IgoSoHard @ Feb 13 2020 09:12am)
In 2015, 2016, and early 2017 trump repeatedly claimed that the the unemployment rate was a made up number to give the impression that the Obama administration's economic recovery was successful.
He claimed, repeatedly, that the labor force participation rate was a more accurate representation of the number of unemployed Americans.
Ergo, using trump's own words against him (which is like shooting fish in a barrel), the more accurate representation of our current unemployment rate would be 33%!
Right now, the only positive metric for our economy is the markets. The sum total of debt for all Americans is 17 trillion dollars. America itself is over 20 trillion dollars in debt. That is greater than our GDP. There are no other bright spots with regards to our current economy. Not wages, not debt, not bankruptcies, nor shuttered storefronts.
The astounding rise in the stock market is being driven by overly optimistic people who can't remember farther back than a decade, corporations and wealthy investors who would rather artificially inflate stock prices to win an election for an admitted criminal than risk having to pay their fair share of taxes if this house of cards were revealed, or trump supporters who are either of the last two examples, or simply believe that he is ordained by some fake deity.
To be clear, the FED no longer has any levers to pull, Mango Mussolini has convinced the Fed to keep interest rates low even while spouting about the best economy in history. When, not if, the current bubble bursts there will be no money to borrow, no interest rate to lower. This is a Kamikaze economy and the crash is going to make the "Great Recession" seem like a walk in the park by comparison.